Zacks: Analysts Anticipate Casey’s General Stores, Inc. (NASDAQ:CASY) Will Post Earnings of $1.54 Per Share

Wall Street brokerages predict that Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) will announce $1.54 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Casey’s General Stores’ earnings. The highest EPS estimate is $1.65 and the lowest is $1.45. Casey’s General Stores reported earnings of $1.12 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.5%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Casey’s General Stores will report full year earnings of $8.98 per share for the current financial year, with EPS estimates ranging from $8.71 to $9.15. For the next year, analysts anticipate that the firm will post earnings of $9.06 per share, with EPS estimates ranging from $7.60 to $9.88. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASYGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.26. Casey’s General Stores had a return on equity of 15.56% and a net margin of 2.71%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $1.04 EPS. The firm’s quarterly revenue was up 51.8% compared to the same quarter last year.

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Casey’s General Stores in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $257.00 to $259.00 and gave the company a “buy” rating in a research report on Thursday, March 10th. Royal Bank of Canada decreased their price objective on shares of Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 9th. Finally, Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a research report on Wednesday. They issued an “overweight” rating and a $240.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Buy” and a consensus price target of $233.36.

A number of hedge funds and other institutional investors have recently modified their holdings of CASY. National Bank of Canada FI bought a new position in Casey’s General Stores in the fourth quarter worth about $121,795,000. Norges Bank bought a new position in Casey’s General Stores in the fourth quarter worth about $66,029,000. Goldman Sachs Group Inc. lifted its holdings in Casey’s General Stores by 152.8% in the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after acquiring an additional 232,277 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Casey’s General Stores by 101.8% in the fourth quarter. TD Asset Management Inc. now owns 334,560 shares of the company’s stock valued at $66,025,000 after purchasing an additional 168,802 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Casey’s General Stores by 450.9% in the third quarter. Millennium Management LLC now owns 177,621 shares of the company’s stock valued at $33,473,000 after purchasing an additional 145,379 shares during the period. 84.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CASY opened at $209.98 on Tuesday. Casey’s General Stores has a 12-month low of $170.82 and a 12-month high of $221.69. The company has a market cap of $7.79 billion, a P/E ratio of 24.39 and a beta of 0.78. The company has a current ratio of 0.84, a quick ratio of 0.39 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $203.50 and a 200 day moving average price of $194.77.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. Casey’s General Stores’s dividend payout ratio is currently 16.26%.

Casey’s General Stores Company Profile (Get Rating)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Earnings History and Estimates for Casey's General Stores (NASDAQ:CASY)

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